The history of our Bank dates back to April 25, 1914, in the small community of Slifer, Iowa, when a small group of farmers met and decided a bank was needed in the area. As a result, they organized and chartered Slifer Savings Bank. Having survived the depression of the early thirties, the Bank was relocated to Farnhamville on June 1, 1934, when the charter was changed to Security Savings Bank. In November 1989, the Bank moved to the current facility located at 320 Garfield Avenue in Farnhamville. Two additional offices were purchased in October 1995 in Harcourt and Lehigh. In December 1996, the charter was moved to Gowrie, leaving the main bookkeeping in Farnhamville. Security Savings Bank stepped in and purchased the banks in Boxholm and Dayton when the communities were losing their banks. The Boxholm office opened in June 1997 and the Dayton office in 2007.
Presidents - Past to Present
Ben Heggen, President, 1914 -1932
Ben Hanson, President, 1932 – circa 1946
Oscar W. Madson, President, circa 1946 – 1976…62 Years of Service
John C. (Chuck) Madson, President 1976 – 1981…43 Years of Service
Dewey C. Madson, President, 1981 – 1993…52 Years of Service
Steven R. Lane, President 1993 – present day…37 Years and Serving
Our Bank has been locally-owned and operated for almost 100 years. We began back in 1914 with very few financial resources, grew to $10,000 by 1934, and now we are proud to say our assets exceed $100 million. We invite you to save and invest with people you know and trust!
We take pride in being a LOCALLY-OWNED AND OPERATED COMMUNITY BANK. We know agriculture and we work hard to understand each customer’s individual needs. And since we’re a local independent bank, all loan decisions are made right here. We reinvest in our local communities because we realize the benefits it makes in the lives of our neighbors. You can count on us for fast, friendly “hometown service,” reasonable interest rates and payments you can afford.